Bayleys is proud to bring to the market for the first time since its construction this modern, post-quake construction two-level office building in Papanui’s Northfield Business Park.
Architecturally designed by highly respected local architects Wilson and Hill, this fully leased investment property offers a striking street presence amongst a row of buildings produced in the same architectural style with a wide frontage to busy Langdons Road in Papanui. Two tenants split the risk and couple this with the pending rent review for the ground floor at the end of this year which has not been reviewed since 2018 and there is a clear upside to ownership. Both tenants have recently renewed for a further term providing a WALT of circa five years from February 2024.
A freehold title avoids the usual complexity of body corporate management arrangements and provides an incredibly generous 21 car parks. The wider business park offers a stunning park-like environment with quality buildings throughout with a strong predominance of medical and medical adjacent tenants.
Don’t miss this unique opportunity. Huge profile, post-quake construction,100% NBS rating, spread of risk with two professional national tenants on solid leases, room to grow the income, what more could you ask?
Call the sole agent now for an Information Memorandum.
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